JP Morgan upgraded the price targets for Greek bank shares.
Specifically, the US rating agency upgraded Eurobank to 3.20 euros (from 2.80 euros), National Bank to 9.80 euros (from 9.70 euros), Piraeus Bank to 6.20 euros (from 5.90 euros) and Alpha Bank to 2.50 euros (from 2.30 euros).
The current stock market price of Eurobank is set at 2.25 euros, National Bank’s at 7.64 euros, Piraeus’ at 3.90 euros and Alpha Bank’s at 1.64 euros.
Last week, JP Morgan rated “overweight” the shares of the MSCI Greece index, which includes all four banks, seeing an increase of +17% to +25% in 2025.
In 2024, the average banking return is +20.6%, which helps the sector index climb to 1,300 points, i.e. to the highest level in the last nine years.
The cumulative capitalization of the four banks on the ATHEX board is estimated, based on the latest prices, at 23.8 billion euros, with Eurobank and National Bank in the first two positions with 8.2 and 7.0 billion euros, respectively.
